GREENPOINT AVENUE FOR SALE MIXED-USE PROPERTY FLEXIBLE ZONING DEVELOPMENT OPPORTUNITY GREENPOINT, BROOKLYN
TABLE OF CONTENTS cover page - for sale mixed-use property flexible zoning development opportunity property photo page - greenpoint avenue, brooklyn ny 11222 table of contents - table of contents 1. agent contact information - cayuga capital property managment, llc 2. executive summary - the opportunity 3. property features - highlights 4. property overview - location 5. floorplan - ground floor 6. floorplan - second floor 7. floorplan - cellar 8. elevations - building 9. lease abstract - projected rent rolls 10. market overview - neighborhood 11. transporation - subway & ferry 12. future of transport - brooklyn queens connector 13. commerce map - greenpoint & northside of williamsburg
GREENPOINT AVENUE For further information, please contact exclusive agents: Jake Quellman 917-881-3066 jakeq@cayugacapital.com Robin Scott 646-982-5461 robin@cayugacapital.com Cayuga Capital Property Managment, LLC 217 Havemeyer Street, 4th Floor Brooklyn, New Yorkk 11211 www.cayugacapital.com 1
GREENPOINT AVENUE EXECUTIVE SUMMARY THE OPPORTUNITY Cayuga Capital Management has been retained to exclusively represent ownership in the sale of Greenpoint Avenue, a 16,700SF commercial building in Greenpoint Brooklyn. This is rare and unique opportunity to acquire 80 feet of retail frontage in the heart of Greenpoint at the busy intersection of Manhattan Avenue; and is situated next to the subway entrance of the G Train (connections to the 7/L/J/M/F/D/N/R trains). The property features a pair of adjacent buildings - a two story structure and a one story structure located West of Manhattan Avenue and East of Franklin Street; which consists of an existing 16,700SF spanning three floorplates: cellar, at grade (ground floor) and the 2nd floor with a lot size of 7,600SF or 80 feet wide x 95 feet deep. The finished basement is larger than most at 5,500SF with 9.5 foot ceilings, at grade the street facing space is 7,200SF with 15 foot ceilings (plus 400SF mezzanine area) and the 2nd level is 3,600SF with 16 foot ceilings. Also featured is addtional FAR allowing for future expansion and the option to purchase neighboring air-rights. The zoning (R6A, C4-3A, C2-4) allows for a variety of use groups and flexible development options. 2
P R O P E R T Y F E A T U R E S HIGHLIGHTS LOT DIMENSIONS LOT SIZE BUILDING DIMENSIONS GROSS BUILDING SIZE (above grade) GROSS BUILDING SIZE (total useable space) ASSESSMENT TAXES ZONING COMMERCIAL FAR COMMUNITY FACILITY FAR DEVELOPMENT RIGHTS 80 x 95 7,600 SF 80 x 90 10,800 SF 16,700 SF $881,540.00 $93,214.00 R6A,C4-3A,C2-4 3.0 3.0 28,300-30,400 SF 3
GREENPOINT AVENUE PROPERTY OVERVIEW LOCATION Greenpoint Avenue is part of tax class 4 on block 2563 and lot 37 in Brooklyn, NY. The property is North facing along Greenpoint Avenue with 80 feet of frontage. The block is bounded by Manhatan Avenue to its East and Franklin Street to the West. The property shares the nearest corner with the subway entrace to the G train and is main connection point from East River Ferry at India Street. Greenpoint is boardered by Long Island City, Williamsburg and surround by expressways (BQE/278, LIE/495, etc) the Queensborough Bridge, Williamsburg Bridge and the Midtown Tunnel connecting traffic to-and-from Manhattan. 4
F L O O R P L A N GROUND FLOOR The ground floor space is 7,200SF and the largest footprint of all the floors; the area is composed of two strucutres each 40 feet wide x 90 feet deep with a center supporting wall divinding the space. 5
F L O O R P L A N SECOND FLOOR The second floor is 3,600SF with soaring ceiling heights of 16 feet; the floor area is half the size of that at grade and is contained within the two story structure, the building closest to Manhattan Avenue. 6
F L O O R P L A N CELLAR The cellar is expansive at 5,500SF with taller ceilings than most for a subgrade area at more than 9 feet and has two means of egress on either side of the property. 7
2ND FLOOR AT GRADE BELOW GRADE E L E V A T I O N S BUILDING The property features a pair of adjacent buildings, a two story structure and a one story structure; the property s zoning (R6A, C4-3A, C2-4) allows for a variety of use groups and and flexible development options - with addtional FAR (3) for future expansion and the option to purchase neighboring air-rights. 8
7,200SF AT $85PSF AND 3% ESCALATION 3,600SF AT $65PSF AND 3% ESCALATION 5,500SF AT $35PSF AND 3% ESCALATION L E A S E A B S T R A C T PROJECTED RENT ROLL The biggest Brooklyn rent growth in 2017 were seen on Greenpoint s Franklin Street, where ground-floor asking rents jumped 42 percent year-over-year to $89 per square foot - The Real Deal, Retail asking rents rise in Greenpoint... July 10, 2017 9
M A R K E T O V E R V I E W NEIGHBORHOOD Greenpoint is one of the most rapidly evolving residential & commercial neighborhoods of Brooklyn. The neighborhood is undergoing a renaissance as nearby Williamsburg prices sky-rocket. The neighborhood has seen a significant increase in new residential developments, independent boutiques, art galleries, cafes, restaurants and entertainment destinations. The hip, young crowd reflects the area s shifting rise in demographics as people migrate from Williamsburg s high-end luxury market. 10
T R A N S P O R T A T I O N SUBWAY & FERRY Greenpoint Avenue is located at the entracnce at the G Train and a few blocks from the East River Ferry at India Street; both the G Train and Ferry connect riders to multiple train lines and destinations, allowing seamless travel throughout all of New York City. 11
F U T U R E O F T R A N S P O R T BROOKLYN QUEENS CONNECTOR The Brooklyn Queens Connector (BQX) is the new streetcar (above ground rail) system servicing waterfront neighborhoods of Brooklyn & Queens via the East River. The Connector will run 24 hours a day and stop every half mile between Astoria and Sunset Park; it will link 30 bus routes, 15 subway lines, 6 LIRR lines, the East River Ferry and various CitiBike stations. The BQX will bring greater accessibility to the waterfront, in turn fueling new business and economic opportunities by generating new jobs and recreational amentities. The $2.5 billion project is anticipated to break ground in 2019 and service over 15 million riders annually by the year 2035. 12
1 G R E E N P O I N T 2 1 Gourmet A Fare Grocery Store 4 2 Lobster Joint Restaurant 3 5 3 Achilles Heel Bar/Restaurant 4 Alameda Bar/Restaurant 5 Esme Restaurant 6 The Moonlight Mile Bar 7 The Naked Dog Restaurant 8 Maman Cafe 9 Ramona Bar 10 Starbucks Cafe 11 Budin Cafe 12 Kickstarter Crowdfund 13 21 Greenpoint Restaurant 14 Paulie Gee s Restaurant 15 The Barge Bar Bar 16 Fornino Restaurant 17 Littleneck Outpost Cafe/Restaurant 18 Chez Ma Tante Restaurant 19 The Diamond Bar 20 Associated Supermarket Grocery Store 21 Peter Pan Donuts Bakery/Cafe 22 House of Vans Concept Store 23 Adidas Concept Store 24 Northern Territory Bar 25 Greenpoint Beer and Ale Bar/Brewery 26 A/D/O Creative Office 27 Konditori Bakery/Cafe 28 Le Fond Restaurant 29 Five Leaves Restaurant 30 One Bedford Restaurant 31 Torst Bar 32 Spritzenhaus Bar/Brewery 33 Leuca Restaurant 34 West Light Lounge 35 Brooklyn Bowl Music Venue 36 Brooklyn Brewery Bar/Brewery 37 Reynard Restaurant 38 The Ideas Bar 39 Output Music Venue 40 Smorgasburg Food Market 40 15 KENT AV WEST ST 13 7 OAK ST 12 WYTHE AV 14 FRANKLIN ST 6 8 9 INDIA ST 11 GREENPOINT AV 17 18 19 22 23 24 25 39 33 38 34 37 35 36 26 G 10 16 CALYER ST 20 MANHATTAN AV NORMAN AV 32 21 NASSAU AV 27 29 30 28 G 31 L BEDFORD AV DRIGGS AVE 13